China Tungsten Price Continued to Be Weak in the Second Half of March 2023

Analysis of latest tungsten market from Chinatungsten Online

At the beginning of this week, China tungsten price continued to be weak and stable when the market trading sentiment did not improve, and buyers and sellers had different mentalities for negotiation. 

Holders have a strong sense of reluctance to sell and want to stabilize the market, and hold a relatively positive view on the recovery of consumption in the future market, or on the value of resources themselves; buyers are mainly inquiring at low prices during periods of weak demand, especially when overseas financial markets are turbulent. The liquidity of market resources has also slowed down. In the second half of the month, the long-term contract prices of three large tungsten companies will be announced soon, and the wait-and-see mood of trading in the market continues.

In terms of news, the European Commission officially announced the proposal of the "European Key Raw Materials Act" on March 16, which aims to ensure that the EU obtains a safe and sustainable supply of key raw materials, including a series of net Indispensable resources such as zero industry, digital industry, aerospace and defense sectors, etc., the EU's goal is that local mining accounts for at least 10% of the EU's annual consumption in 2030, processing accounts for at least 40% of annual consumption, and recycling accounts for at least annual consumption 15%, and no more than 65% reliance on third country resources.

Prices of tungsten products on March 21, 2023

Picture of tungsten powder 

Follow our WeChat to know the latest tungsten price, information and market analysis.

• < Prev
• Next >